Monty Chadha, son of late liquor baron Ponty Chadha, held at Delhi airport in cheating case

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New Delhi | Published: June 13, 2019 12:47:51 PM

Booked for cheating, Monty had a Look Out Circular (LOC) issued against him.

monty chadha, ponty chadha, monty chadha arrested, monty chadha held, wave cinema, wave groupApart from being the director of Uppal-Chadha Hi-tech Developers Private Limited, he is also the vice chairman of the Wave group. (Representative image)

In a major catch for Delhi Police, it’s Economic Offences Wing nabbed Manpreet Singh Chadha aka Monty Chadha in connection with a cheating case. Monty is the son of liquor baron Ponty Chadha, who was killed along with his brother at a farmhouse in the national capital in 2012. Monty, who was managing his father’s business since the latter’s death, was nabbed at the Indira Gandhi International Airport in New Delhi when he was leaving for Thailand.

Booked for cheating, Monty had a Look Out Circular (LOC) issued against him. He is accused of cheating several flat buyers. Earlier, the Delhi Police filed cases of cheating against him, his family members and employees in 2018. The police will produce Chadha at a local court today.

Apart from being the director of Uppal-Chadha Hi-tech Developers Private Limited, he is also the vice chairman of the Wave group. The latter company is mainly into construction and manufacturing business. While it promised township projects near NH24 with a number of facilities, the same never came into being, reports said. As per the FIR, after the project was launched in 2006, the group has been “playing with the investor’s hard earned money”. Monty has been charged under Sections 420/406/120B of Indian Penal Code (IPC) Act- 1860.

As per media reports, several persons from Noida and Ghaziabad had alleged in their complaints to the police that Monty had accepted payments and promised to deliver the flats within a period of eight months. However, when they confronted him over possession of flats as promised, Monty tried to dilly-dally the matter, the complaints said. Monty is believed to have usurped funds from a number of buyers on the pretext of providing them flats through a vast network of construction companies.

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